HighPoint Advisor Group LLC Takes $319,000 Position in SFL Co. Ltd. (NYSE:SFL)

HighPoint Advisor Group LLC bought a new stake in shares of SFL Co. Ltd. (NYSE:SFL) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 28,272 shares of the shipping company’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in SFL by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,061,666 shares of the shipping company’s stock worth $11,838,000 after buying an additional 4,873 shares during the period. Deutsche Bank AG increased its position in shares of SFL by 24.4% during the third quarter. Deutsche Bank AG now owns 52,459 shares of the shipping company’s stock worth $585,000 after acquiring an additional 10,276 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of SFL by 2,191.1% during the third quarter. PNC Financial Services Group Inc. now owns 13,632 shares of the shipping company’s stock worth $152,000 after acquiring an additional 13,037 shares during the period. Dark Forest Capital Management LP bought a new stake in SFL in the 3rd quarter valued at $239,000. Finally, Federated Hermes Inc. boosted its stake in SFL by 10.4% in the 3rd quarter. Federated Hermes Inc. now owns 27,053 shares of the shipping company’s stock worth $302,000 after purchasing an additional 2,547 shares during the period. Institutional investors own 28.59% of the company’s stock.

SFL Trading Up 1.8 %

NYSE SFL opened at $13.51 on Friday. SFL Co. Ltd. has a 12 month low of $9.03 and a 12 month high of $14.62. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.55. The stock has a 50 day moving average of $13.63 and a 200-day moving average of $12.78. The company has a market cap of $1.87 billion, a PE ratio of 13.92 and a beta of 0.66.

SFL (NYSE:SFL) last announced its quarterly earnings results on Tuesday, May 14th. The shipping company reported $0.37 EPS for the quarter. The firm had revenue of $229.06 million during the quarter. SFL had a net margin of 15.21% and a return on equity of 11.47%.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, May 24th. This represents a $1.08 dividend on an annualized basis and a yield of 8.00%. This is a boost from SFL’s previous quarterly dividend of $0.26. SFL’s dividend payout ratio (DPR) is presently 111.34%.

Analyst Ratings Changes

Several research firms have issued reports on SFL. BTIG Research lifted their price target on SFL from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. StockNews.com raised SFL from a “hold” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.33.

SFL Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.